“What I preach for is regulation that protects and prevents but does not cripple and destroy [innovation],” the senior adviser told Cointelegraph.
The cryptocurrency industry needs to prioritize investor education over stringent regulations as it recovers from the downfall caused by the collapse of the FTX exchange, which resulted in $8.9 billion in user funds lost.
Financial education, especially regarding risk management, should be the fundamental concern of the crypto industry, according to Moe Vela, former senior advisor to President Joe Biden and senior advisor to Unicoin.
Vela told Cointelegraph in an exclusive interview:
